Analysis of cryptocurrency pairs BTC / USD, ETH / USD and XRP / USD on 12/23/2019

Despite the market not being overheated, some growth is still possible, but will the bulls be able to break through the current level?resistance?

BTC / USD

Over the weekend, the bulls were able to increase volumes andbreak through the level of 7400.00 USD at the end of the week. At night, growth continued towards a narrow gray zone, in the area of ​​7600.00 USD. In the area of ​​the upper border of this area (7640.00 USD), growth stopped and there is a high probability of a reversal.

If you look at the daily chart, then in this zoneis the daily EMA55. This is a fairly strong resistance level, but judging by the StochRSI indicator lines, which are in the overbought zone, there is still some potential for growth. The price can break through this resistance only with a strong bullish impulse, with large-scale support by volumes.

If the bulls fail to mount such an offensive operation, then BTC price will return to the support of 7400.00 USD early this week.

  

ETH / USD

On Saturday, the price of Ethereum was in thenarrow consolidation, and on Sunday buyers took advantage of the support of the Point Of Control line (126.94 USD) and tested the resistance of the 38.2% Fibonacci level (135.17 USD).

At night, this level turned the pair downward, but market volumes are low and the rollback is not deep yet. The rollback may stop around the 131.30 USD mark.

If the bulls don't give up the initiative, then it's possiblea breakout of the 38.2% Fibonacci level and a retest of the recent consolidation range in the area of ​​the 140.00 USD mark, but it is unlikely that buyers will be able to consolidate in the maximum zone. 

XRP / USD

XRP/USD managed to break higher on Saturdayaverage price level, and on Sunday buyers made another attempt to break through the resistance of 0.200 USD. The growth was not supported by large volumes, so by the end of the week the XRP price was unable to test the psychological mark of 0.200 USD.

Trading volumes dropped even further overnight, andthe pair rolled back to the 0.197 USD mark. If the bulls can continue the market recovery, the price will test the descending blue trend line. The lack of activity will lead to a decrease in the pair to the level of average prices.

* All price values ​​are based on data from the BitStamp exchange